Real Estate (Tables)

9 Months Ended

Sep. 30, 2012

Real Estate [Abstract]

Allocation of the purchase price for One Beach Street and City Center Bellevue

	One Beach Street		City Center Bellevue		Total
Land	$	15,332	$	25,135	$	40,467
Building		16,764		185,653		202,417
Land improvements		30		154		184
Tenant improvements		1,223		5,191		6,414
Total real estate		33,349		216,133		249,482
Lease intangibles		4,141		11,870		16,011
Prepaid expenses and other assets		1		2,596		2,597
Total assets	$	37,491	$	230,599	$	268,090
Accounts payable and accrued expenses	$	94	$	456	$	550
Security deposits payable		75		740		815
Lease intangibles		1,382		8,733		10,115
Other liabilities and deferred credits		22		497		519
Total liabilities	$	1,573	$	10,426	$	11,999

Pro forma financial information

The following table summarizes the unaudited pro forma financial information (in thousands):

	Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
	As Reported		Pro Forma		As Reported		Pro Forma
Total revenue	$	177,683	$	186,776	$	154,276	$	179,780
Total operating expenses		123,980		134,068		110,222		133,590
Operating income		53,703		52,708		44,054		46,190
Net income (loss)	$	9,993	$	9,126	$	13,569	$	(31,199	)(1)

(1) The net loss for the nine months ended September 30, 2011 includes one-time expenses for the early extinguishment of debt and loan transfer and consent fees but excludes the gain on acquisition of the controlling interests in the Solana Beach Centre entities and the Waikiki Beach Walk entities.